ALARA RESOURCES LIMITED

ALARA RESOURCES LIMITED (ASX: AUQ)

Al Hadeetha Resources has secured an additional ~USD15 million loan from Sohar Bank International for the Al Wash-hi Majaza Copper-Gold Project development.
Civil construction of the project's 1MTPA copper processing plant is approximately three quarters complete, with substantial progress in MEP works.
Project commissioning phase is expected to commence from August 2023, with commercial production commencement targeted for 27 September 2023.

2023-05-02 09:33:00

Alara Resources LLC establishes a Saudi Arabia-based subsidiary named Alara Tasnim Southwest Mining Company Ltd (ATSW) to enter the Saudi Arabian mining exploration sector.
ATSW plans to apply for and receive Saudi-domiciled mining exploration licenses to undertake precious and base metals exploration activities and provide exploration and mining services to other participants in the Saudi mining industry.
ATSW will review technical reports and studies for the highly prospective Arabian Shield region in Saudi Arabia to identify attractive exploration target areas and place bids in upcoming exploration project auctions conducted by the Saudi Ministry of Industry and Mineral Resources.

2023-03-27 09:08:00

Development of Wash-hi mine progressing well with stripping of overburden and oxide/gossan ore continuing in Wash-hi pit, at a current depth of 25 meters below surface.
High-grade copper sulphide ore exposed at 430 SRL in the pit.
LME spot copper returns to above USD 9000 per tonne, increasing the net present value ( NPV) of Alara’s interest in the project to USD 61.71 million (AUD 88.24 million)1.

2023-01-17 09:21:00